The Richline Group, a subsidiary of Berkshire Hathaway Inc., said Tuesday that it has purchased gold jewelry manufacturer Prime Time Manufacturing.
“With the price of gold at near record levels, this particular category in fine jewelry will become, strategically, even more important then in the past and Prime Time is an ideal addition to our brands,” said Dennis Ulrich, chief executive officer of Richline.
Prime Time, based in Warwick, R.I., will operate as a stand alone company and continue to be a “manufacturers’ manufacturer,” producing exclusive and proprietary products for its diverse customer base.
Sal Eacuello, Jr., who founded Primetime, in 1988, will be retiring from the industry. “We are proud of our past accomplishments and believe strongly that joining together with Richline ensures a secure and productive future for our employees and customers,” Eacuello said.
Joe Esposito will continue as executive vice president of Manufacturing and Operations and John Antolino will continue as executive vice president of Sales and Merchandising.
Source: jckonline
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